Is anyone else amazed by just how many different types of insurance/covers were meant to have?

I mean..................

Car insurance
Bike insurance
Boat insurance
Death insurance
Funeral insurance
Travel insurance
Health insurance
Business insurance

Ambulance cover

I'm sorry but our earnings do not cover all of these and of course it's the one that we don't get that were going to need.

I understand that people of different ages will require different insurances but come on.

Answer from a General Insurance Agent

Yep.. I agree with you..

It's just ridiculous.

And I'm a general lines agent even and I agree..

In my experience I've found that most people are either grossly over insured or woefully under insured.

My dearly departed Grand Father referred to Insurance companies as "Merchants of Fear" and in some ways he was right. There are many insurers out there who will heap every kind of coverage they can think of on you when they know you don't really need it, and they try to use your fear that something might happen to sell you on it.

Personally I think all government mandated insurance is just wrong.

If all the states went to a True "No Fault Auto Insurance" system, all our rates on that line at least would easily be cut by 2/3's.

As much as 70 percent of our auto rates are directly attributable to auto insurance fraud. I think that our insurance should pay for our loss and the other guys should pay for his damages and forget about "fault".

That would take away the incentive for auto insurance fraud because the fraudsters own insurance would have to pay every time, pretty soon he will find himself un-insurable at any rate.

Auto Liability insurance should be optional. The only one that would lose out in a true no fault environment would be the one who chose not to buy insurance. Whatever happened to freedom of choice?

To save us on Home Owners Insurance, All we have to do is find a way to get people to stop using their home owners insurance as a home warranty and maintenance program.

As much as 50 percent of your home owners insurance premium is the direct result of claims over failure of home owners to maintain their home. Home owners policies were originally designed to provide coverage in catastrophic and accidental loss situations, not to fix leaky faucets and worn out carpet. Those are maintenance issues.

Anyways, Nice venting with you.

Take care.

It's pathetic isn't it?

Insurance is all about passing the responsibility along. Pretty soon we are going go have to buy insurance to cover our current insurance.

well if you have a lot of toys then sure...ambulance is under your health and 'funeral' and 'death' would be one life insurance policy....When you have assets you don't want to risk then you insure them. Look at the bright side, if you had nothing you wouldn't need as much insurance.

You don't understand insurance, do you?

Ambulance is included in health policies. Business insurance, only if you own a business. I NEVER buy travel insurance. Funeral and Death insurance are the same thing. Boat insurance, bike insurance (assuming you mean motorcycle), car insurance, are all only if you own those items and want to use them on public property.

Most people only have health insurance, car insurance, and house insurance.

You can mitigate your costs, by understanding what the insurance companies cover, and planning appropriately - ie, if you don't BORROW MONEY, then lenders won't be there to require you to buy more insurance.

Usually, high insurance costs are a result of high exposure. Minimize your exposure, minimize your insurance costs.

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